All technicals point to this bull run turning over very soon. We have reached a trend line that has proven to be a heavy resistance. As for fundamentals, there is not enough of a bull case to break this pattern. Equites seem exhausted, cheap money is running out, and 2021-22 outlook does not look promising for many companies.
Key Factors::
- Technicals lining up - Volatility bottoming - Big bets against corporate credit - Fundamental outlook looks gloomy